Christmas is a time for showing appreciation. Whether you’re sending hampers to clients, buying your team a bottle of wine or organising the office Christmas party, it’s important to understand what HMRC will allow you to claim. The rules aren’t always straightforward. A Christmas gift might be a genuine business expense but still not qualify
Category Archives: VAT
What can your business claim and what happens to the VAT A garden office can be a brilliant way to create a proper workspace at home. Unfortunately, the tax rules do not simply allow you to deduct the whole cost from your business profits. The building itself, the equipment inside it and the VAT on
Under-charging VAT is one of the most common – and costly – mistakes we see from small business owners. And the tricky part? Most people don’t realise they’re doing it. VAT isn’t just about whether you’re registered. It’s about what you’re charging VAT on, when you should be charging it, and how costs are passed
Bookkeeping, Corporation Tax, DNA News, Self-Assessment/ Personal Tax, VAT
Who We Don’t Work With (And Who Might Be a Perfect Fit)
We love working with businesses that align with our values and approach. But we also know that not every client is the right fit—and that’s okay! Being upfront about this helps both of us save time and focus on businesses where we can really make a difference. In this post, we’ll share some red flags
Bookkeeping, CIS, Corporation Tax, PAYE, Self-Assessment/ Personal Tax, VAT, Year-End Preparation Tips
Managing client expectations: How long will it take?
We love working with our clients, but let’s be real – nobody enjoys chasing emails about deadlines. So, to keep things running smoothly, here’s a handy guide on when you can expect your accounts, tax returns, payroll, and everything in between to be completed. Key to Timelines ✅ Timelines below are based on receiving all
Bookkeeping, Common Bookkeeping Mistakes, Organising Your Receipts & Invoices, Self-Assessment Tips for Sole Traders, VAT Tips for Small Businesses, Xero Tips & Tricks, Year-End Preparation Tips
Behind the scenes of double-entry bookkeeping with Xero: Why the details matter
For many small business owners, bookkeeping might feel like a bit of a mystery. You upload receipts, reconcile bank transactions, and assign account codes, but what’s really happening behind the scenes? At DNA, we love pulling back the curtain to show how double-entry bookkeeping – the unsung hero of good financial management – works its
Automating Your Finances, Bookkeeping, Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips, VAT Tips for Small Businesses, Xero Tips & Tricks
The importance of providing bank statements to your accountant despite Xero direct feeds
In today’s digital world, tools like Xero have made managing business finances much easier. With direct bank feeds, your transactions automatically show up in your accounting software, saving you time and effort. But even though this technology is fantastic, it isn’t perfect. That’s why your accountant might still ask for copies of your physical bank
Welcome to the world of VAT. It might not be the most thrilling topic, but it’s essential for businesses like ours. Let’s dive in and make sense of it together. Ready? So, what exactly is VAT? Well, think of it as that sneaky little tax added onto most goods and services by businesses like ours.
Bookkeeping, Client Success Stories, Common Bookkeeping Mistakes, VAT Tips for Small Businesses, Xero Tips & Tricks
Are you thinking of doing your own limited company’s bookkeeping?
We hate to break it to you, but you’re not the best bookkeeper for your business. You are a business owner with a speciality in your industry. Here at DNA Accountants, we’ll always encourage business owners to hand over their bookkeeping to us. Why do we suggest this? Because it’s the fastest way to save
Best Accounting Apps, Changes to Tax Rates & Thresholds, HMRC Updates & Changes, Important News from HMRC, MTD for Income Tax (ITSA), MTD for VAT, Technology & Software for Businesses, Xero Tips & Tricks
What is MTD and how will it affect my business?
What is MTD we hear you ask? No, it’s not “Month to Date”, “Metric Tonnes per Day” or even “Marine Technology Directorate”! We’re talking about Making Tax Digital. The scheme was originally announced by HMRC in 2017, but it’s been years in the making (a bit like Avatar 2!). What’s changing? MTD will require
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